Mnangagwa to wield axe on pharmaceuticals

Players in the pharmaceutical industry insisting on charging medical drugs and other consumables in foreign currency despite receiving support from the central bank are set to lose their routine foreign currency allocations from the Reserve Bank of Zimbabwe, according to secretary for Finance and Economic Development Permanent George Guvamatanga.

This comes amid reports that businesses in the health sector, including those that are receiving foreign currency from the apex bank amounting to US$20 million monthly to import drugs and medicines, have been turning down patients under medical insurance, demanding that they pay for drugs and other services exclusively in United States (US) dollars.

Government had appealed to the pharmaceutical industry to accept all forms of payment at the official 1:1 rate – including accepting medical aid cards – but this appears to have fallen on deaf ears in some instances.